With Chinese New Year at our door, will the price rise?

[Wookii]

Yes, indeed some users and experts associate the fall of the market with the Asian New Year, but I also agree that the situation on the market depends on other factors. I think this drop went to someone for good.

The situation had much more factors, but this one in my opinion one of those factors and it is no longer there Sure, someone filled their pockets...

[EricExxo]

Wait for a boom in price of Chinese project in the following weeks.

[leea-1334]

Well, you just contradicted yourself. If it is true that Chinese Asians (a really big market) will be looking to liquidate crypto into fiat for spending then the market price increases we are seeing now does not make sense. I sort of agree on this part because I know for Chinese businesses, it is good feng shui to spend more on celebrating the new year. Do not spend enough and it will be like luck will desert them in business.

But I am wondering, if all these traditional Chinese business people are really that much into crypto? I think it is the other way round, that crypto wealthy are now only entering into business.

[lasry]

This year's Chinese New Year seems that helped the prices of the currencies in the cryptoworld recover. But it doesn't looks like that it made their prices rise. Ethereum price is at its normal and maintained price. There is no noticeable price change at all. I wonder if it would keep its pace up or would it maintain at its usual price this year.

[cheezcarls]

I honestly believe after the Chinese New Year, the price will pump just like the past few years. Yes, we recovered from a huge crash between mid-January to early February, where Bitcoin plunged to $5,700 before they made a bullish run of up to $10,300+ hours ago.

Now it's below $10k again, it's just see a minor correction before it will make another rally in the next few weeks. It's time to #HODL and see the price increase, and we can rejoice all we want.

[Bujonanila]

I think that currently the cash flow should redistribute towards altcoins.

[German Klimenko]

I don't understand exactly how time periods like a New Year,  Birthday of the Queen,  Full Moon etc. have related to the price of cryptocurrency. I think that price always has connected with fundamental factors and with manipulation activity.

[mrproblem]

The decrease is definitely not the main reason from new year but increase may have some point but after February it will act.

[orions.belt19]

I heard it's tradition of the Chinese to spend money during their New Year. If they spend and give out money, they believe that they will get lucky and prosperous for the rest of the year. Chinese are very good businessmen and they would go through certain extents and traditions so that their businesses will be a success. If that were the case, then Chinese crypto-users would cash out the crypto that they have and this may cause a dump or a small price drop - as opposed to what OP has said.

[Bay_Harbour_Butcher]

I think this is true, the price of coins is down because people prepare for the needs of chinese new year, and after chinese new year passes, everyone starts buying coin again

[ocid]

price movement on crypto exchanges is not related to chinese new year moment. I think the price of crypto exchanges that tend to increase or decrease I think it is a common thing. because indeed the price movement of crypto especially pada bitcoin is very pluktuatif where every investor will invest at the time of low price and take advantage at the moment of high price.

[sinduarianto]

for now we do not know for sure because it will probably go up again but it takes a long process.

[LeoSys]

Yes, im sure prices will go up those days.

[paulus51]

I repeated this several times and I repeat again: after the Chinese New Year investors' activity should increase. This happened historically and should happen in 2018

[ekin4]

Slow rise in BTC is healthier, thay way we can see small altcoin rises too. If BTC rise too fast usually alts can't catch up and they fall down. Everybody expected Chinese New Year, now we can rise again. Market is too optimistic now.

[cryptogirlboss]

I really don’t know how the average chinese is managing to trade and buying cryptos with all the bans and blocks

is china still the biggest crypto volume on the markets?

[rodel caling]

before chinese new year comes have people's worrying about bitcoin price going down again upto 7k usd 0r more than, but i really believe there nothing effect for the bitcoin the celebration of chiese new year into bitcoin, why  this is my conclusion answer, for me is because until cryptocurrency including bitcoin are ban in the china government, but look at now bitcoin bouncing the price in the market exchange.

[cryptoamumu]

Prices are going up but at a slow pace. Most of the top coins are in green. Btc is over $11k and eth is about to hit $1k. The next 48 hrs is important. People are still on vacation from chinese new year. People might start selling soon and we could be in a sea of red or things will continue to move sideways at a healthy pace. 

[Baimovic]

yes, I think that in china new year will drop drastically, but just down slightly. and now it has gone up again.

but different in china year yesterday, I see in china year before bitcoin price down far.

the difference is that this year, at the end of February and March bitcoin will get a lot of support. so bitcoin prices can be slightly stable.

[sofi@]

Hello everyone!

So, with the new year of dog at our doorspetps, do you expect the price of all the coins to rise? Or at least the major ones? I have written some articles in the past month, where i was pointing out Chinese New Year coming up as one of the factors of the decline. The reason for that was, that Asian people will spent a lot of money in this time, so not really buying crypto, eventually going out from crypto for a while to have some FIAT for spendings and so on.

With the New Year here, we can see increae in the price already. I don't really think that this is a coincidence! What price do you expect now? How fast do you expect everything to rise?

I am expecting slower pace for BTC, which will be really good for the altcoins, as they can increase their ALT/BTC price, which in the end can increase their $ price much faster.

Seems Chinese New Year gives a good predictions for bitcoin as it start pumping again. I hope after this event the value of bitcoin same thing with all other alts will continue to appreciate again.

I think many investors are now starting to put some investment in bitcoin and alts which contributes to the increasing demand as well as crypto price.